Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni−0.121%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1441.444% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)−0.298%−$30 · spread now −0.121%, 7d avg −0.020%

Together, before fees−0.392%−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.100% cheaper against ApeX Omni than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSTRUSDT	165.55	0.0100	pay 0.0013% / 1h	6m 48s	$4K	$184K	50x
Short	KuCoin MSTRUSDTM	165.35	0.0100	get 0.0100% / 8h	5h 06m	$2.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee KuCoinbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → −0.020%: −$10.05
Slippage, 4 orders: −$122.35
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$154.4
Costs to cover: 1.444%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 2 min ago; KuCoin: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy ApeX Omni live order book, 2 min ago	3.02 bp	37.5 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	1.81 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	−0.0858%	8h	165.38	−0.103%	$27.7M	$114.7M	25x	as long as short
Gate MSTR_USDT	−0.0002%	8h	165.38	−0.103%	$4.6M	$18.7M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.38	−0.100%	$1.8M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.34	−0.127%	$20.7M	$100.1M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.57	+0.012%	$2.8M	$73K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.20	−0.211%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.15	−0.245%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.289%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.64	+0.054%	$27K	$110K	10x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.63	+0.050%	$1.2M	$2.1M	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.59	+0.024%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.18	−0.223%	$55.0M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.31	−0.145%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.32	−0.139%	$882K	$4.1M	10x	as long as short
SoDEX MSTR-USD	+0.0053%	1h	165.38	−0.103%	$44K	$3K	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.34	−0.127%	$1.4M	$7.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.35	−0.119%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	165.35	−0.121%	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDTlong	+0.0100%	1h	165.55	long leg	$4K	$184K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.45	−0.060%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.42	−0.081%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0109%	8h	165.34	−0.127%	$88.0M	$616.8M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0131%	8h	165.39	−0.098%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0161%	8h	165.67	+0.073%	$79K	$758K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	−0.024%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0214%	1h	165.37	−0.106%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0229%	8h	165.41	−0.085%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.41	−0.085%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.63	+0.048%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0337%	8h	165.40	−0.091%	$17.2M	$40.6M	50x	as long as short
edgeX MSTRUSDC	+0.0468%	4h	165.68	+0.077%	$50K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0536%	1h	165.45	−0.060%	$281K	$438K	10x	as long as short